GBP/JPY retreated to 189.02 last week but recovered since then. Initial bias is turned neutral this week first. Risk is mildly on the downside as long as 191.29 resistance holds. Firm break of 188.90 resistance turned support will bring deeper fall to 38.2% retracement of 178.32 to 191.29 at 186.33, as a correction to rise
GBPJPY Outlook
By ActionForex.com Mar 01 24, 06:55 GMT Daily Pivots: (S1) 188.67; (P) 189.75; (R1) 190.44; More…. Risk stays on the downside in GBP/JPY as long as 191.29 short term top holds. Break of 188.90 resistance turned support will extend the decline to 38.2% retracement of 178.32 to 191.29 at 186.33. In the bigger picture, up
Daily Pivots: (S1) 190.40; (P) 190.68; (R1) 191.10; More…. GBP/JPY’s break of 190.32 suggests short term topping at 191.29. Considering bearish divergence condition in 4H MACD, it could now be correcting whole rally from 178.32. Intraday bias is back on the downside for 188.90 resistance turned support first. Firm break there will target 38.2% retracement
Daily Pivots: (S1) 190.50; (P) 190.84; (R1) 191.31; More…. Intraday bias in GBP/JPY is turned neutral again with current retreat. On the upside, decisive break of 61.8% projection of 178.71 to 188.90 from 185.21 at 191.50 will extend larger up trend to 100% projection at 195.40. On the downside, however, break of 190.32 minor support
Daily Pivots: (S1) 190.57; (P) 190.95; (R1) 191.55; More… Intraday bias in GBP/JPY is back on the upside with breach of 191.12 temporary top. Firm break of 61.8% projection of 178.71 to 188.90 from 185.21 at 191.50 will extend larger up trend to 100% projection at 195.40. On the downside, however, break of 190.32 minor
Daily Pivots: (S1) 190.36; (P) 190.76; (R1) 191.11; More… Intraday bias in GBP/JPY is turned neutral with current retreat, and some consolidations would be seen first. Downside should be contained by 188.90 resistance turned support to bring another rally. On the upside, firm break of 61.8% projection of 178.71 to 188.90 from 185.21 at 191.50
GBP/JPY’s up trend continued last week and there is no sign of topping yet. Initial bias remains on the upside this week for 61.8% projection of 178.71 to 188.90 from 185.21 at 191.50. Firm break there will target 100% projection at 195.40. On the downside, below 189.83 minor support will turn intraday bias neutral and